By: NATHAN STUEDLE
U.S. farm income is expected to decline this year despite stronger crop receipts and increased government payments. The University of Missouri's Food and Agricultural Policy Research Institute projects net farm income at about 155-billion dollars, down eight-billion from 2025. Crop receipts are projected to increase 16-billion dollars, with corn and soybean receipts accounting for nearly 12-billion of that improvement. But higher fuel, fertilizer and other production expenses are expected to outweigh those gains.
Livestock receipts are projected to decline 13-billion dollars overall, although cattle and calf receipts are expected to increase nine-billion. FAPRI also projects nearly 13-billion dollars in combined PLC and ARC payments this year, about 11-billion more than in 2025. The institute expects record cattle prices to continue this year before projecting a cautious turn in the cattle cycle during 2027.